Daewoo-Led Contractors
Bore Into Japan's Market

A S IF JAPANESE construction companies weren't already hurting enough as the economic crisis ravages their Asian markets: Now a South Korean contractor has upstaged them at home.

Last month a group led by Daewoo became the first Asian firm to beat out Japanese companies as a main contractor for a public-works project, winning two contracts. The first, awarded last month, is to build a depot for the Ministry of Post and Telecommunication in Ibaraki Prefecture for 1.8 billion yen ($15.4 million.) The second, a 2.2 billion...